Core Insights - The integration of short-term rental services within long-term rental apartments is reshaping the rental market, with Vanke's "BAY" short-term rental service achieving over 10,000 bookings in just 7 days during the National Day holiday [1][3] Group 1: Market Trends - The domestic tourism market is experiencing significant growth, with a projected 73% increase in travel bookings during the 2025 National Day holiday, driven largely by the younger generation, particularly those born after 2000, who account for 62% of travelers [1] - High-star hotel bookings have seen a remarkable year-on-year increase of 115%, indicating a shift towards quality and cost-effectiveness in accommodation choices among young travelers [1] Group 2: Vanke's Strategy - Vanke's "BAY" has been exploring a combined long and short rental model since 2022, catering to both long-term leases and short-term stays for corporate clients and existing tenants [3][5] - The short-term rental service is being actively promoted in multiple cities, including Jinan, Xi'an, Hangzhou, Foshan, Shenzhen, Xiamen, and Tianjin, with a special campaign for the National Day holiday [3] Group 3: Competitive Advantages - The pricing strategy of Vanke's short-term rentals, such as the Shenzhen BAY flagship store offering rates around 240 RMB per day, presents a significant cost advantage compared to local hotels averaging 500 RMB per day [3][5] - The company has developed personalized short-term rental solutions for over 300 locations, emphasizing cost savings for corporate travel and training needs [5] Group 4: Industry Position - Vanke is recognized as a leading player in the long-term rental market, with a management scale exceeding 270,000 units and an operational scale surpassing 200,000 units, achieving a 95% occupancy rate and customer satisfaction [6] - The company's innovative approach to combining long and short-term rentals is seen as a viable strategy to navigate increasing market competition and is expected to reshape the urban accommodation landscape [6]